MIRA INFORM REPORT

Report Date :

19.01.2012

IDENTIFICATION DETAILS

Name :	KINGBOOST PLASTICS CO. LTD.

Registered Office :	c/o SBC Corporate Services Ltd. Unit 503, 5/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon

Country :	Hong Kong

Date of Incorporation :	05.01.2005

Com. Reg. No.:	35237884

Legal Form :	Private Limited Company.

Line of Business :	Importer, Exporter and Wholesaler of Hardwood Flooring, Plastic Products, etc.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small company

Payment Behaviour :	No complaints

Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Hong Kong

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

KINGBOOST PLASTICS CO. LTD.

Company ADDRESS

c/o SBC Corporate Services Ltd.

Unit 503, 5/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

PHONE: 2507 7219

FAX: 2507 7225

MANAGEMENT

Managing Director: Ms. Zhang Mei

SUMMARY

Incorporated on: 5th January, 2005.

Organization: Private Limited Company.

Capital: Nominal: HK$10,000.00

Issued: HK$10,000.00

Business Category: Importer, Exporter and Wholesaler.

Employees: Nil.

Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Banking Relation: Satisfactory.

Company name

KINGBOOST PLASTICS CO. LTD.

Company ADDRESS

Registered Head Office:-

c/o SBC Corporate Services Ltd.

Unit 503, 5/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong.

Associated Company:-

Shanghai Kingboost Plastic Co. Ltd., China.

BUSINESS REGISTRATION NUMBER

35237884

COMPANY FILE NUMBER

0943996

MANAGEMENT

Managing Director: Ms. Zhang Mei

CAPITAL

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

SHAREHOLDER

(As per registry dated 05-01-2011)

Name		No. of shares
ZHANG Mei		10,000 =====

Name

No. of shares

ZHANG Mei

10,000

=====

DIRECTOR

(As per registry dated 05-01-2011)

Name (Nationality)	Address
ZHANG Mei	Room 702, No. 27 Lane 1880, Longyang Road, Shanghai, China.

Name

(Nationality)

Address

ZHANG Mei

Room 702, No. 27 Lane 1880, Longyang Road, Shanghai, China.

SECRETARY

(As per registry dated 01-09-2011)

Name	Address	Co. No.
SBC Corporate Services Ltd.	Room B, 10/F., Tower A, Billion Centre, 1 Wang Kwong Road, Kowloon Bay, Kowloon, Hong Kong.	0618863

HISTORY

The subject was incorporated on 5th January, 2005 as a private limited liability company under the Hong Kong Companies Ordinance.

Apart from these, neither material change nor amendment has been ever traced and noted.

OPERATIONS

Activities: Importer, Exporter and Wholesaler.

Lines: Hardwood flooring, plastic products, etc.

Employees: Nil.

Commodities Imported: China, etc.

Markets: US, Europe, Asian countries, etc.

Terms/Sales: L/C, T/T, etc.

Terms/Buying: L/C, T/T, etc.

FINANCIAL INFORMATION

Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00 each)

Issued Share Capital: HK$10,000.00

Profit or Loss: Keeping a balance account in Hong Kong.

Condition: Business is not active in Hong Kong.

Facilities: Making fairly active use of general banking facilities.

Payment: Met trade commitments as required.

Commercial Morality: Satisfactory.

Banker: The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

Standing: Small.

GENERAL

Having issued 10,000 ordinary shares of HK$1.00 each, Kingboost Plastics Co. Ltd. is wholly owned by Ms. Zhang Mei who is China businesswoman. She is a China passport holder and does not have the right to reside in Hong Kong permanently. Residing in Shanghai, China, she is also the only director of the subject.

The subject does not have its own operating office. Its registered office is in a commercial service firm located at Unit 503, 5/F., Silvercord Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong known as SBC Corporate Services Ltd. [SBC] which is handling its correspondences and documents. SBC is also the corporate secretary of the subject. Currently, this firm has had several branch offices in Hong Kong. The subject has no employees in Hong Kong.

The subject has had an associated company Shanghai Kingboost Plastic Co. Ltd. [Shanghai Kingboost] which is a Shanghai-based firm. Shanghai Kingboost is trading in hardwood flooring, plastic products, etc. Sourced from the suppliers in China, products are exported to the United States, Europe, other Asian countries, etc.

It is likely that the Shanghai Kingboost deals with foreign parties under the name of the subject and let foreign firms correspond with the subject’s registered address in Hong Kong. Shanghai Kingboost also exports commodities to foreign markets under the name of the subject and its registered address in Hong Kong.

The subject’s business in Hong Kong is not active. History in Hong Kong is over seven years.

Since the subject does not have its own operating office and has no employees in Hong Kong, consider it good for business engagements on L/C basis.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.66
UK Pound	1	Rs.77.72
Euro	1	Rs.64.63

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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